Chris Maurice, the co-founder and CEO of Yellow Card, a leading cryptocurrency platform in Africa, recently shared valuable insights into why Africa is at the forefront of real-world crypto adoption during an interview with Jacquelyn Melinek, co-founder of Token Relations, on June 5.
Maurice’s journey began humbly, selling bitcoin on eBay and even in-person at places like Taco Bell. These early experiences gave him firsthand knowledge of digital assets and their potential, ultimately leading him to establish Yellow Card, now one of Africa’s most influential crypto companies.
Early crypto ventures and the birth of Yellow Card
The company initially operated as a crypto exchange before transitioning to focus on stablecoin-based payment rails, which was driven by user demand.
During the interview, he explained how he encountered a Nigerian man who was charged $90 to send $200 to his family, exposing the inefficiencies of traditional remittance systems. This incident reinforced his conviction that cryptocurrency could be a solution for cross-border payments in Africa.
RelatedPosts
“That moment changed everything,” he said. “I realised how broken the traditional financial system was for millions of people when I met someone paying $90 to send just $200 to his family.”
As market demands shifted, the company’s business model underwent a significant transformation. “Ninety-nine percent of our users switched to stablecoins,” Maurice noted, highlighting the rapid adoption of dollar-pegged assets in Africa’s volatile economic environments.
The company has since established payment rails across 20 African countries, serving over 30,000 businesses. Maurice emphasised the practical advantages: “Stablecoins matter more in Buenos Aires than in New York. When your currency loses value overnight, crypto isn’t just an investment—it’s survival.”
The CEO also addressed misconceptions about crypto adoption in Africa, stating that emerging markets are not behind but rather leading in real-world cryptocurrency use cases.
Maurice challenged common misconceptions about crypto adoption in Africa, emphasizing that emerging markets are not lagging but leading in practical applications of cryptocurrency. The continent’s unique economic challenges such as unstable local currencies and costly remittance systems make crypto solutions not just useful but essential.
Yellow Card’s localised approach and partnerships enable seamless integration into existing financial ecosystems
With a $40 million Series B round in 2022 and an additional $33 million raised in 2024, Yellow Card is scaling its infrastructure, including integrations with global stablecoin networks like Circle.
He outlined plans to expand B2B services further to facilitate smoother trade and financial operations across the continent.
The future of crypto in Africa
Maurice’s insights underscore the growing role of cryptocurrency in Africa’s financial ecosystem. As traditional banking systems struggle with high costs and inefficiencies, platforms like Yellow Card demonstrate how blockchain technology can provide scalable and low-cost alternatives.
The company’s success reflects a broader trend: emerging markets are not just adopting crypto but defining its practical utility.
With stablecoins becoming a cornerstone of commerce, the cryptocurrency company is positioned to play a key role in shaping Africa’s digital financial future.